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Dimitris:
Every market has its own harmonic, and they often are
not the standard Fibonacci ratios. For example, .786 pops up quite often
in my work. And some markets seem to prefer Gann levels. Need to
have charting flexibility.
Bill
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Dimitris
Tsokakis
To: <A title=amibroker@xxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Saturday, August 04, 2001 12:51
PM
Subject: [amibroker] The Unknown Future
:Combined Patterns
The downtrend began at A and ended at B.
When we combine price and time Fibonacci paterns for an
uptrend,
we search the possible end of the uptrend, to sell the
stock
As you see , the stock retraced almost the 50% of previous
losses
and at point C we have price retracement 0.381 AND time
retracement
0.381 also (red vertical line).(As you read in the title :14
days ago)
I am affraid that someone who saw the stock coming backwards
from
the 50%, saw the coincidence of 0.381 and , above allthe
very low
opening of the next to C date, would suppose a sell
signal.
Note here that we are in day C, the future is
unknown.
The stock raised again, it was something like a Fibonacci
whipsaw,
did not stop at 0.618 and the next level is 100%
retracement
I never felt safe with these signals. Sometimes I waslucky,
but not always.
In my opinion, the weak point here is that this 0.381
as the other
Fibonacci ratios are predetermined, the day C will always be
the day C,
no matter what happened the day
C-1.
Any way, this is personal opinion, any one interestedfor
Fibonacci time
intervals, enjoy and use above codes.
Dimitris Tsokakis
P. S. Similar codes may be written for other significant
time retracements
and the conjugate codes for the downtrend
calculations.Your use of Yahoo! Groups is subject tothe
Yahoo! Terms of Service.
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